The Board is pleased to announce that on 26 August 2016, the Company entered into the Agreement, pursuant to which the Company conditionally agreed to purchase (through one or more direct and/or indirect wholly-owned subsidiaries of the Company) and the Sellers conditionally agreed to sell, the Target Assets at a cash consideration of US$150,000,000 on a cash-free, debt-free basis; provided, however, that US$50,000,000 of the cash consideration will be funded into escrow accounts and distributed back to the Company if certain post-closing conditions are not satisfied.